Brazilian President Dilma Rousseff announced during her Wednesday’s Labor Day speech that she has written up another proposal for lawmakers. This proposal hopes to allocate all of the royalties from oil which are collected by the state, and spend it on public education. With the constant problems that the country faces about the issue however, Congress had suspended an earlier and similar effort made by the Brazilian President.
The revenue which comes from these oil royalties are expected to become even more lucrative when the country manages to tap the plentiful subsalt fields just off of the Atlantic Coast.
A battle to change the economy
Despite the lucrative possibilities of the oil industry, Brazil suffers from an economy that has become completely sluggish and has shown close to almost no expansion in the recent years. The local businesses, as well as the consumers are having a very difficult time trying to expand their horizons which in turn is harming the economy little by little. The President believes that the proposal is a good first step to aiding the country’s struggling economy, by allowing royalties to be used on public education.
At the moment, the government’s biggest battle is its constant effort to maintain control over inflation, which rose to 6.59% in March – an unsettling fact as it is the highest rate in fourteen years.
A call to aid the proposal
The President also urged the Brazilian citizens to help her proposal push through by pressing the state’s legislators into action. She believes that only with the help of the citizens will the proposal begin to take shape. She promised that the government, with the help of the royalties being poured into public education, will continue to help reduce prices as well as cut taxes, which will help businesses thrive and ultimately pull the economy out of its slump.
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